Categories
Product Development

Internal Barriers to Successful Product Development

'City Speed' photo (c) 2010, New York City Department of Transportation - license: http://creativecommons.org/licenses/by-nd/2.0/

There are many reasons why new products or services are not successful in the Marketplace.  Let’s take a look at 12 of those reasons.

1.    Inadequate Commitment by Top Management

Halfhearted support of a project will be seen by the organization as permission to just do the minimum to get the product out the door.

2.    Sub-optimal Attention, Understanding and Support Can Stop Innovation

If the team is not keeping their eye on the ball little mistakes and misunderstandings can steamroll into bigger mistakes and misunderstandings.  The result is a product launch that is flawed because the design is not precisely followed.

3.    Bureaucratic Development Processes

Don’t make it easier to be plain vanilla.  If your system is so onerous staff will not go the extra mile to innovate.

4.    What Development Process?

The opposite of number 3.  No process is worse because there are no defined stages to stop and measure, and evaluate and think.

5.    Product Managers Pulled in Multiple Directions

If product managers are spending most of their time on baseline activities they cannot work on the new and different product and services.

6.    Risk Averse Culture

Managing and evaluating risk is important.  Testing and adjusting ad nauseum trying to eliminate all risk will delay a product to market or strip it of its “edge.”

7.    Support Function Servicing Multiple Masters

I worked in a matrixed organization for years.  Serving more than one master was difficult.  Areas like R&D and engineering are being pulled in different directions by product development teams.  Don’t make it a popularity contest.

8.    Don’t Eat Your Young

An unsupportive corporate culture will stifle new ideas and thoughts.  These challenge the status quo, which makes folks uncomfortable.

9.    Moving Definitions of Success

If senior management keeps moving the goal posts, then how can you ever get there?

10. Pennywise and Pound Foolish

Product Development is an investment in the business not an expense to minimize this quarter.

11. WIIFM (What is in it for me?)

Looking out for your own self-interest or for your career is not necessarily what is best for the business.

12. The Numbers Say….

Only considering the immediate financial impact can cause the organization to miss opportunities.  Some products are necessary for flanking or future opportunities.  The sales numbers cannot capture consumer sentiment or brand perception.

The Takeaway

New products are the lifeblood of organizations.  Stop the internal reasons that are preventing your company from successfully rolling out new products.

Those are the reasons.  Over to you.  Please comment below.

  1. What other reasons would you add to the list?
  2. How do you minimize the internal reasons for product delay or failure?
  3. How have you overcome obstacles in your company?

If you would like to contact me, you may do so by visiting my LinkedIn page, following me on Twitter,  or e-mailing me at rcberman2 (at) yahoo (dot) com.

Categories
Business Development

Grandpop I Am Not Done Talking!

'[PARENTS MAGAZINE, GIRL WITH CAT]' photo (c) 2008, George Eastman House - license: http://www.flickr.com/commons/usage/My daughter once told my father, “Grandpop I am not done talking.”  I had one of those how cute is that moments.  Then, I thought what an apt metaphor for listening to our customers.

Sales reps and account executives should be trained and know about how to interact with customers and prospects.  Here are some reminders.

  1. We have two ears and one mouth.  We should use them in that proportion.
  2. Listen and watch for cues for when the other person is pausing to gather a thought and when they have completed the thought.
  3. There is no “I” in team.  It is about hearing, understanding and meeting customer needs.  It is not about what you want to sell.
  4. He who speaks first loses.  Not always, but interesting advice.  Don’t speak to fill dead air.  Let the other person articulate their objections or perhaps their acceptance to the sale.
  5. If one customer touch is good, then 10 must be great.  It is so easy to e-mail or text these days.  Don’t use that as a crutch to “be in your customer’s face.”
  6. Check in with me later.  Is it really later or never?  Time in fungible.  We do not get it back.  Is that person a real prospect, a suspect or a waste of time?

The Takeaway

Listening is one our five senses.  When interacting with customers or prospects it is the most important one.

That’s it for me.  Over to you.

  1. What tips do you have for listening to customers?
  2. How do you “read between the lines” about what the prospect is really saying?
  3. What percent of the time is your customer speaking during your conversations?

If you would like to contact me, you may do so by visiting my LinkedIn page, following me on Twitter,  or e-mailing me at rcberman2 (at) yahoo (dot) com.

Categories
Branding Business Development Public Relations

Why Should I Bother with a Press Release?

'WebRTC Announcements Week' photo (c) 2012, Tsahi Levent-Levi - license: http://creativecommons.org/licenses/by/2.0/Press Releases must work or else there would not be millions of them each year.  I am reminded of the old saying attributed to John Wannamaker.  “I know advertising works half the time, I just don’t know which half.”

If you are not swayed by my general point about Press Releases working, then consider these benefits of Press Releases.

 

 

1.    Search Engine Optimization

Build links back to your site to bring new visitors.  Links help with your credibility as a website.  Thus, the more credibility the higher you arrear in search results.

2.    Provide News on Social Media Sites like LinkedIn and Facebook

We are constantly looking for status updates.  A Press Release is a perfect opportunity to briefly describe the situation and provide a link.

3.    New Content for Your Website

Spiders on search engines like Google and Bing are always looking for new content.  Oblige them by adding the press release to your website.

4.    A Quick Way to Touch a Customer

Send the press release to a customer to keep them current on your firm’s activities.

5.    Send it to Top Prospects

Similar to the idea of keeping customers in the loop it may be even more important to let prospects know your good news.  Prospects are still forming opinions about your firm and whether they should take a leap and partner with you to meet their needs.

6.    Create and Reinforce the Habit of Writing Press Releases

The Takeaway

Press Releases are beneficial.  They have many uses which might just land you a coveted interview or press exposure.

Over to you.  What are your thoughts on these questions?

  1. What other ways to you use Press Releases?
  2. What has been your experience with Press Releases?
  3. What advice would you provide to someone just getting started with Press Releases?Why Should I Bother with a Press Release?

If you would like to contact me, you may do so by visiting my LinkedIn page, following me on Twitter,  or e-mailing me at rcberman2 (at) yahoo (dot) com.

Categories
Social Media

Do You Have a Social Media Policy?

'Social Media Policy: How To Write It' photo (c) 2011, Cambodia4kids.org Beth Kanter - license: http://creativecommons.org/licenses/by/2.0/Social Media has exploded over the last couple of years.  We are more attached to devices that allow us to be connected to Facebook, Twitter, LinkedIn, Pinterest and various blogs.

The Workplace

At work, many employees like to connect via their employer’s network.  Employers have erected firewalls or blocked sites to help protect their systems from outside attacks.  The result is decreased ability for employees to reach these sites.

Other companies allow free access to these Social Media sites with little or no rules.  On one hand that allows employees to access and post on these sites.  On the other hand, how much time are employees spending on these sites instead of performing their job duties?

Questions to Consider

During the time on the Social Media sites are your employees talking about your company?  Is it positive or negative?  Are they authorized to mention or represent your company on these sites?

Lots of questions.  Do you have a Social Media policy?  There are a number of generic ones online to either implement or use as a starting point.

The Takeaway

Create a Social Media policy for your company before your employees create a defacto one.

Those are my thoughts.  How about you?  Please comment below.

  1. Do you have a Social Media policy?
  2. What is your company’s approach to Social Media?
  3. Are you planning to adjust your approach?

If you would like to contact me, you may do so by visiting my LinkedIn page, following me on Twitter,  or e-mailing me at rcberman2 (at) yahoo (dot) com.

Categories
Branding Customer Service

6 Techniques to Re-Purpose Customer Success Stories

'80% of success is just showing up' photo (c) 2011, Sean MacEntee - license: http://creativecommons.org/licenses/by/2.0/Customer success stories should be proof of success. The fact that you have satisfied needs and exceeded expectations makes you feel good. These stories were great in the Sales Process , Communications Vehicles and when Working with the Media . Here are a few other places to utilize them as well.

Industry Awards Entries

When you apply for awards you need to demonstrate your success. What better way than to detail a customer challenge and how your firm met it.

Non-Profit Fundraising

Non-profits require funding to provide their valuable services. That funding is only derived in a few ways. Foundation or government grants are really spiced up when they are personalized to how the funders dollars have been effectively put to work. The same approach works well with fundraising campaigns.

Annual Reports

We traditionally think that only larger, public corporations issue annual reports. Not true! Non-profits often create them to give to funders. Smaller firms can create them to use as marketing collateral to share with current or prospective clients. It is your document and your chance to show what makes you different.

For-Profit Fundraising

Share your successes when you pitch a Venture Capital Fund, Economic Development Fund or your bank. Your reason for funding is to continue to create more successes. Funders want to go and grow with a winner. Show you are a winner.

Voicemail

Usually, you are trying to reach someone when you call. But what if that was not your strategy? Call after hours solely to leave a message. What does your message say? Start with the basics, who you are and what your company does. Then, share a quick success story and indicate how you can do the same for them. The person getting the voicemail will either call you back or be more inclined to take your next call during business hours.

On-hold Messaging

Similar to the voicemail approach above, tell customers or prospective customers how successful you can make them. You compose a message that will appeal to most callers. Invite them to a special offer or to speak to a specific person about your success story.

Bonus Techniques

I have written 4 other posts on Customer Success Stories. Click below to read them.

The Takeaway

Customer success stories are little treasures. Don’t bury them. Rather, share them with anyone and everyone who can help your organization.

Those are the ideas. Over to you. Please comment below:

  1. How else do you use customer success stories?
  2. Have you successfully used any of the above techniques?
  3. Will you value your success more in the future?

If you would like to contact me, you may do so by visiting my LinkedIn page, following me on Twitter,  or e-mailing me at rcberman2 (at) yahoo (dot) com.